Designed to eliminate the adverse impacts of the SALT cap, the Pass-Through Entity Tax (PTET) is an optional state income tax that taxpayers may elect to use. However, before deciding whether a PTET election is the right move, there are a variety of issues to consider.
Watch the recording from our December 7th webinar for insights on the Pass-Through Entity Tax (PTET), an optional state income tax that Pass-Through Entity taxpayers may elect to use.
The SALT cap has been a contentious issue ever since it was passed as part of 2017’s Tax Cuts and Jobs Act.
Few contractors give much thought to state sales tax when they’re installing property improvements for a customer.